1991 (4) TMI 43 - HC - Income Tax

Summary

The High Court of Allahabad upheld the Tribunal's decision regarding a Hindu undivided family's claim for exemption under section 80K of the Income-tax Act in relation to dividend income from J. K. Synthetics Ltd. The Tribunal directed the Income-tax Officer to verify the company's entitlement to deduction under section 80J before allowing the deduction under section 80K. The Court found no error in the Tribunal's decision and declined to answer the specific question raised, stating that the Tribunal's direction was legal and justified.